BidaskClub downgraded shares of ArcBest Corporation (NASDAQ:ARCB) from a hold rating to a sell rating in a research report report published on Thursday morning.

Several other research analysts also recently weighed in on the company. Zacks Investment Research upgraded ArcBest Corporation from a sell rating to a hold rating in a research note on Thursday, July 6th. ValuEngine downgraded ArcBest Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Cowen and Company increased their price target on ArcBest Corporation from $24.00 to $27.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Finally, Deutsche Bank AG cut their price target on ArcBest Corporation from $33.00 to $25.00 and set a hold rating for the company in a research note on Monday, May 8th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $26.20.

ArcBest Corporation (ARCB) traded down 1.4282% during midday trading on Thursday, hitting $26.5651. The stock had a trading volume of 96,837 shares. The stock has a market cap of $682.46 million, a P/E ratio of 30.7111 and a beta of 1.56. The company has a 50-day moving average price of $21.14 and a 200-day moving average price of $24.91. ArcBest Corporation has a 52 week low of $16.95 and a 52 week high of $33.95.

ArcBest Corporation (NASDAQ:ARCB) last posted its quarterly earnings results on Friday, July 28th. The transportation company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. The company had revenue of $720.40 million during the quarter, compared to the consensus estimate of $721.11 million. ArcBest Corporation had a return on equity of 4.92% and a net margin of 0.83%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 EPS. Equities analysts expect that ArcBest Corporation will post $1.19 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 22nd. Shareholders of record on Tuesday, August 8th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 1.19%. ArcBest Corporation’s payout ratio is currently 37.21%.

Several hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR boosted its position in shares of ArcBest Corporation by 0.7% in the first quarter. Stephens Inc. AR now owns 8,728 shares of the transportation company’s stock worth $227,000 after buying an additional 60 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of ArcBest Corporation by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the transportation company’s stock worth $252,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System boosted its position in shares of ArcBest Corporation by 0.8% in the first quarter. Arizona State Retirement System now owns 12,416 shares of the transportation company’s stock worth $323,000 after buying an additional 100 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of ArcBest Corporation by 1.7% in the second quarter. Texas Permanent School Fund now owns 17,543 shares of the transportation company’s stock worth $361,000 after buying an additional 299 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in shares of ArcBest Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 5,569 shares of the transportation company’s stock worth $145,000 after buying an additional 362 shares in the last quarter. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

ArcBest Corporation Company Profile

ArcBest Corporation is a holding company of businesses providing integrated logistics solutions. The Company operates through three segments: Asset-Based, which consists of ABF Freight System, Inc and other subsidiaries; ArcBest, which represents the consolidation of the operations of the Premium Logistics, Transportation Management and Household Goods Moving Services segments, and FleetNet, which includes the results of operations of FleetNet America, Inc (FleetNet).

Analyst Recommendations for ArcBest Corporation (NASDAQ:ARCB)

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